Skip to content
Nonprofiteer
← INNOVATION CENTER STOUGHTON INC

Form 990 for tax year 2022

Filed by INNOVATION CENTER STOUGHTON INC.

Totals

Total revenue
$129,283
Total expenses
$1,777
Contributions and grants received
$127,925
Grants paid
$0
Program service revenue
$0
Investment income
$1,358
Other revenue
$0
Total assets, end of year
$380,828
Total liabilities, end of year
$770
Net assets or fund balances, end of year
$380,058
Program services expenses (Part IX)
$0
Management and general expenses
$1,777
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $125,000

  • 1f · All other contributions, gifts and grants

    $2,925

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $1,358 · related or exempt $0 · unrelated business $0 · excluded $1,358

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $363 · management and general $363

  • 13 · Office expenses

    total $166 · management and general $166

  • 17 · Travel

    total $454 · management and general $454

  • 24a · Other expenses: Wisconsin Department of Financial Institutions 2022 annual fee

    total $25 · program services $0 · management and general $25 · fundraising $0

  • 24b · Other expenses: Reimbursement to Board President for 2021 organizational costs

    total $769 · program services $0 · management and general $769 · fundraising $0

  • 24e · All other expenses

    total $0 · management and general $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,321 · end of year $129,470

  • 2 · Savings and temporary cash investments

    beginning of year $250,000 · end of year $251,358

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $769 · end of year $770

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $252,552 · end of year $380,058

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

Innovation Center Stoughton exposes people to what's possible through community outreach, technical awareness, and business incubation and resources.

Activities or mission (Part I)

Innovation Center Stoughton exposes people to what's possible through community outreach, technical awareness, and business incubation and resources. The organization will 1) Educate, guide, coordinate, and grow the Stoughton Area School District's FabLab program into a community-based innovation center. 2) Build and administer the Innovation Center and lifelong learning network. 3) Encourage and build financial support from the community and region for programs administered by Innovation Center Inc.

  • No programs were run in 2022.

  • No programs were run in 2022.

  • No programs were run in 2022.

As filed on the 2022 return.

Listed in Part VII

  • Mike Connor

    Board President

    Total calculated
    $0
    Hours/week
    3

  • Tim Swadley

    Board Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Carl Chenoweth

    Board Secretary

    Total calculated
    $0
    Hours/week
    1

  • Cary Bremigan

    Board Vice President

    Total calculated
    $0
    Hours/week
    1

  • Dan Keyser

    Board Member

    Total calculated
    $0
    Hours/week
    0.5

  • Sarah Ebert

    Board Member

    Total calculated
    $0
    Hours/week
    0.5

  • Greta Anderson

    Board Member

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
16 March 2023
IRS schema version
2022v5.0
Source object
202331309349302803

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.